Cannabis comp tables as of Dec. 17 – now excluding excess cash

Published December 17, 2019

This comp table provides a benchmark for private investors to evaluate existing and future investments and a menu for public investors to peruse.

It groups companies into groups based on the main business model (vertically integrated operators, hemp/CBD, pharmaceutical, and ancillary products and services) and lists the market capitalization, enterprise value (EV), sales estimates and EV/sales multiples on those sales projections.

Nonmeaningful outliers are removed prior to calculating the averages by group.

Given the shift in focus to cash flow for the sector, we have added EV/EBITDA multiples to the table.